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Handbook of Central Banking and Financial Authorities in Europe

New Architectures in the Supervision of Financial Markets Edited by Donato Masciandaro, Full Professor of Economics and Chair in Economics of Financial Regulation, Bocconi University, Italy
Analyzing ongoing changes in the design of regulatory and supervisory authorities over the banking and financial industry in Europe, this comprehensive Handbook pays particular attention to the role of national central banks, the new financial supervisory authorities and the European Central Bank (ECB).
Extent: 584 pp
Hardback Price: $285.00 Web: $256.50
Publication Date: 2005
ISBN: 978 1 84376 789 3
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  • Economics and Finance
  • Financial Economics and Regulation
Analyzing ongoing changes in the design of regulatory and supervisory authorities over the banking and financial industry in Europe, this comprehensive Handbook pays particular attention to the role of national central banks, the new financial supervisory authorities and the European Central Bank (ECB). The contributors, all experts in their fields, begin by presenting the current situation in Europe, focusing on the role of the central banks, before going on to illustrate the supervisory architecture reforms of the late 1990s. The Handbook also highlights the emerging role of new integrated financial authorities through an analysis of different national case studies. This new original reference book concludes with a review of the various options now available for the design of supervisory architecture at the European level, considering also the possible involvement of the ECB.

The Handbook tackles a number of controversial issues including:

• why financial supervision architecture is important and why the issue has arisen at the present time
• the roles of national central banks and national policymakers in alternative financial supervisory structures
• the advantages and potential hazards of single financial authorities unified or integrated agencies.

This essential Handbook is a major multidisciplinary work and will be of great value to scholars and academics – principally in economics, finance and European studies but also politics and law – as well as regulators and supervisory institutions.
‘Everyone involved with financial regulation and supervision should have already read this book which offers not only a thorough overview of where Europe stands but also gives a dynamic approach of how and why Europe has been – and will be – shifting towards a more unified financial authority. . . Masciandaro has edited a Handbook on a very topical subject that will indeed in the near future give rise to many challenging debates in the European Union. The papers gathered offer a complete view of the benefits and drawbacks of the different existing and potential structures of financial regulation and supervision agencies. Including the specific experience of ten countries gives a practical/empirical dimension and reduces the “home bias” knowledge of many economists!’
– Catherine Lubochinsky, SUERF Newsletter
Contributors: B.S. Aamo, T. Allen, L. Balogh, H. Bjerre-Nielsen, I. Bonde, J. de Haan, A. De Vincenzo, P. del Río, S.C.W. Eijffinger, A. García Herrero, C. Goodhart, A. Grünbichler, K. Lannoo, L. Liive, D.T. Llewellyn, P. Marullo Reedtz, D. Masciandaro, M. Monti, N. Moss, S. Oosterlo, H. Prast, D. Schoenmaker, M. Schüler, A. Sykes, I. Van Lelyveld, J. Westrup
Contents:
Foreword by Charles Goodhart
Introduction by Mario Monti
Part I: Central Banks and Financial Supervision
1. Central Banks as Monetary Authorities and Financial Stability
Alicia García Herrero and Pedro del Río
2. The Role of Central Banks in Fostering Financial Stability
Sander Oosterloo and Jakob de Haan
3. Central Banks and Single Financial Authorities: Economics, Politics and Law
Donato Masciandaro
Part II: The Emerging Role of Single Financial Authorities
4. Integrated Agencies and the Role of Central Banks
David T. Llewellyn
5. United Kingdom
Andrew Sykes and Terry Allen
6. Austria
Andreas Grünbichler
7. Denmark
Henrik Bjerre-Nielsen
8. Sweden
Ingrid Bonde
9. Norway
Bjørn Skogstad Aamo
10. Estonia
Lelo Liive
11. Hungary
László Balogh
12. Germany
Martin Schüler
13. The Netherlands
Henriëtte Prast and Iman Van Lelyveld
14. Ireland
Jonathan Westrup
Part III: What Role for Central Banks and Single Financial Authorities?
15. The International Network of Financial Authorities
Nina Moss
16. Central Banks and Financial Authorities in Europe: What Prospects?
Dirk Schoenmaker
17. The European Central Bank and Financial Supervision
Sylvester C.W. Eijffinger
18. The Transformation of Financial Regulation and Supervision in the EU
Karel Lannoo
19. The Role of the Central Bank in Financial Supervision: The Case of Italy
Alessio De Vincenzo and Paolo Marullo Reedtz
Index